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Transfermarkt has updated the market values of the Spanish LaLiga. Real Madrid’s star Jude Bellingham is the big winner of the update and is now level with Erling Haaland and Kylian Mbappé in a group of the most valuable players in the world. League leaders Girona set a new standard by having their squad value increase by €64 million—that amount is not just a record for the Albirrojos but also unheard of in European football.

Before we get to Girona, we will have to talk about Bellingham. The 20-year-old Englishman, who joined Real Madrid from Borussia Dortmund for a transfer fee exceeding €100m, saw his market value increase for a second time since his move by €30m. Now at €180m, Bellingham becomes just the second LaLiga player after Lionel Messi (in 2018) to reach this benchmark. In the league ranking, Bellingham has passed his teammate Vinicius Junior, with whom he used to be at the top of the ranking. The Brazilian, who is currently injured with a muscle injury, remains at €150m.

Bellingham’s upgrade is only consequential. The Englishman has scored 13 goals and two assists in 15 games and leads the LaLiga goalscoring charts. In the Champions League, Bellingham has scored four goals and three assists in five group-stage matches, and he has also been directly involved in four goals in three games for England.

Girona significantly increases squad value: Biggest plus in Europe

In the title race, surprise team Girona remains steadfast and, with eight wins from the last ten games, are among the most in-form teams in any of Europe’s top 5 leagues (statistic). After an increase of €64m, the new squad value is now €225m.

LaLigaThe most valuable squadsOverviewThe biggest increase in the squad coached by Míchel goes to top goalscorer Artem Dovbyk, who saw his market value increase by €13m to now €28m—one of the biggest increases in LaLiga overall. Other players with an upgrade include Sávio (+€10m to €20m), the 19-year-old Brazilian, who is on loan from Troyes was directly involved in nine Girona goals this season. Aleix García (+€10m to €20m), Yangel Herrera (+€10m to €20m), Iván Martín (+€6m to €10m), and Miguel Gutiérrez (+€5m to €20m) also saw their market values increase significantly. Girona’s increase in squad value is unprecedented among teams playing in Europe’s top 5 leagues—only Real Sociedad with a plus of €44.5m and VfB Stuttgart saw a similar increase as part of the recent Bundesliga market value update with a plus of €42.7m.

The most valuable players in La Liga

1. JUDE BELLINGHAM | REAL MADRID | MARKET VALUE: €180M

+€30M

26/26

26. JOÃO CANCELO | BARCELONA | MARKET VALUE: €40M

-€10M (updated on December 22nd)

1/26

25. ROBIN LE NORMAND | REAL SOCIEDAD | MARKET VALUE: €40M

-€5M

2/26

24. ANDREAS CHRISTENSEN | FC BARCELONA | MARKET VALUE: €40M

3/26

23. BRAIS MÉNDEZ | REAL SOCIEDAD | MARKET VALUE: €40M

-€10M

4/26

22. JOÃO FÉLIX | BARCELONA | MARKET VALUE: €40M

-€10M

5/26

21. NAHUEL MOLINA | ATLÉTICO MADRID | MARKET VALUE: €45M

-€5M

6/26

20. MIKEL MERINO | REAL SOCIEDAD | MARKET VALUE: €50M

7/26

19. RAPHINHA | BARCELONA | MARKET VALUE: €50M

-€10M

8/26

18. MIKEL OYARZABAL | REAL SOCIEDAD | MARKET VALUE: €50M

+€10M

9/26

17. MARTÍN ZUBIMENDI | REAL SOCIEDAD | MARKET VALUE: €50M

+10 M€

10/26

16. NICO WILLIAMS | ATHLETIC BILBAO | MARKET VALUE: €50M

+€10M

11/26

15. ALEJANDRO BALDE | BARCELONA | MARKET VALUE: €50M

12/26

14. JULES KOUNDÉ | BARCELONA | MARKET VALUE: €60M

13/26

13. TAKEFUSA KUBO | REAL SOCIEDAD | MARKET VALUE: €60M

+€10M

14/26

12. LAMINE YAMAL | BARCELONA | MARKET VALUE: €60M

+€10M

15/26

11. ÉDER MILITÃO | REAL MADRID | MARKET VALUE: €70M

16/26

10. RONALD ARAÚJO | BARCELONA | MARKET VALUE: €70M

17/26

9. FRENKIE DE JONG | BARCELONA | MARKET VALUE: €80M

-€10M

18/26

8. AURÉLIEN TCHOUAMÉNI | REAL MADRID | MARKET VALUE: €90M

19/26

7. EDUARDO CAMAVINGA | REAL MADRID | MARKET VALUE: €90M

20/26

6. PEDRI | FC BARCELONA | MARKET VALUE: €90M

-€10M

21/26

5. GAVI | BARCELONA | MARKET VALUE: €90M

22/26

4. FEDERICO VALVERDE | REAL MADRID | MARKET VALUE: €100M

23/26

3. RODRYGO | REAL MADRID | MARKET VALUE: €100M

24/26

2. VINICIUS JUNIOR | REAL MADRID | MARKET VALUE: €150M

25/26

1. JUDE BELLINGHAM | REAL MADRID | MARKET VALUE: €180M

+€30M

26/26

26. JOÃO CANCELO | BARCELONA | MARKET VALUE: €40M

-€10M (updated on December 22nd)

1/26

Nine Barcelona players downgraded

About 100km south, Girona’s Catalan rivalsBarcelona received the biggest decrease in squad value with a drop of €44m. Nine players have been downgraded, among them Pedri (-€10m to €90m), Frenkie de Jong (-€10m to €80m), Raphinha (-€10m to €60m), João Cancelo and João Félix (both -€10m to €40m) as well as Robert Lewandowski (-€10m to €20m). In comparison to Real Madrid, who remain almost unchanged, Barça have lost some significant ground. Real Madrid are now the only LaLiga club with a market value of more than €1 billion.

Alavés' Omorodion among the big winners

Bellingham and Dovbyk aside, Samu Omorodion, who is on loan from Atlético Madrid at Alavés, is among the big winners with a plus of €14m to €20m. The 19-year-old center-forward with Nigerian roots has scored five goals in 16 games. Last September, he made his debut for Spain’s U21 and has since managed five appearances for his country.

Players with upgrades also include Barça talent Lamine Yamal and Real Sociedad’s Takefusa Kubo (both +€10m to €60m). The club from San Sebastián received the second-biggest increase in squad value behind Girona. This is also due to the in-demand Martín Zubimendi and national team player Mikel Oyarzabal, whose market values were increased from €40m to €50m. Also on the up is midfielder Brais Méndez (+€10m to €40m).

Finally, Athletic Bilbao’s 21-year-old winger Nico Williams increased his market value for the fifth time since the summer of 2022 by another €10m, to €50m now. With that latest market value increase, the Spanish national team player is the most valuable player in the squad of Los Leones.

How Transfermarkt market values work

The Transfermarkt market values are calculated, taking into account various pricing models. A major factor is the Transfermarkt community, whose members discuss and evaluate player market values in detail. In general, the Transfermarkt market values are not to be equated with transfer fees.

The goal is not to predict a price but an expected value of a player in a free market. Both individual transfer modalities and situational conditions are relevant in determining market values. Examples of this are listed below. Transfermarkt does not use an algorithm (you can find the detailed market value definition here).

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